Growth rate manufacturing output lower
The average daily output in the Dutch manufacturing industry was 1.2 percent higher in September than one year previously. This is after correction for the effect of the composition of working days and the staggered holiday period on production. For the eighth consecutive month, production is higher than in the same month one year previously. On the other hand, the growth rate over the past two months is more moderate than in the preceding two months.
Production was higher in nearly all sectors of industry; it was only lower than twelve months previously in the paper industry and the wood industry. The increase was largest in the metal industry.
To get a more reliable idea of the short-term developments in production, it is best to look at production after correction of seasonal effects. As the corrected figures are often erratic, the two-month average compared with the previous two-month average is used for this.
After correction for working day and seasonal effects, manufacturing production was 1.5 percent lower in the period August-September compared with the period June-July this year. Fewer investment goods in particular were produced than in June-July this year.